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News from Second & State

You could hear a pin drop in the halls of the state capitol building this week, with neither chamber in for voting session. However, that doesn’t mean members weren’t busy. Education was a hot topic early this week; the Basic...more

Unusual Bipartisanship Makes New Free Trade Agreements More Likely

Major new free trade agreements are on the horizon. For the past several years, the Obama Administration has been negotiating two new major free trade agreements: the Trans-Pacific Partnership (TPP) and the Trans-Atlantic...more

Legislative Update for Brand Manufacturers Distributing in Alabama

On April 28, 2015, the Alabama House of Representatives passed SB-80, thereby abolishing the highly criticized theory of innovator liability adopted in Wyeth, Inc. v. Weeks, ___ So.3d___, 2014 WL 4055813 (Ala. Aug. 15, 2014)....more

Data Breach Legislation – Creating a Federal Standard

Whatever your political viewpoints may be on the dividing line between federal and state responsibilities, or the interpretation of the 10th Amendment to our Constitution, there is no question the Framers saw an important...more

Blog: Senator Urges SEC To Revisit Rules And Policies On Stock Buybacks

Data compiled by S&P and Bloomberg shows that companies in the S&P 500 spent 95% of their earnings on repurchases and dividends in 2014, including spending $553 billion on stock buybacks in 2014. ...more

Product Law: Legal regime for electronic products in Germany set to change

By way of the Directive on Waste Electrical and Electronic Equipment (Directive 2012/19/EU; so-called WEEE Directive), the EU has required its Member States to adapt their electrical and electronic equipment law until 2014....more

Construction Defect Reform Bill Defeated

Senate Bill 15-177, a bill introduced to reform Colorado’s construction defect litigation process, was defeated in a House of Representatives Committee on April 28, 2015 without being presented for a full vote in the House....more

House Subcommittee to Consider JOBS Act Related Bills

Today, the Subcommittee on Capital Markets and Government Sponsored Enterprises of the House Financial Services Committee has scheduled a hearing entitled “Legislative Proposals to Enhance Capital Formation and Reduce...more

Washington State Amends Data Breach Law

Passage of H.B. 1078 sets a 45-day notification deadline, adds additional notice requirements Washington Governor Jay Inslee signed H.B. 1078 into law on April 23, revising the state’s data breach notification statute and...more

A Week of Trade: Congress Advances Numerous Trade Bills

This past week saw more congressional activity on trade legislation than has been seen in some time. Both houses of US Congress marked up and advanced badly needed and long-overdue legislation in a number of areas relevant to...more

Tennessee Enacts Legislation Requiring Payment Service Providers to Provide Adequate Disclosures to Merchants

On April 17, the Tennessee Governor Bill Haslem signed H.B. 547, which requires the disclosure of fees and other details in contracts entered into by payment service providers with merchants located within the state....more

"MSRB’s Rule G-42 Submitted to SEC for Approval; Rule G-44 Now in Effect"

This alert is to inform you that the Municipal Securities Rulemaking Board (MSRB) recently submitted Proposed Rule G-42 (standards of conduct for nonsolicitor municipal advisors) to the Securities and Exchange Commission...more

Update: The Consequences of Modifying Pennsylvania's Powers of Attorney Statute Potential Impacts on Commercial Loans & Leases

On April 14, 2015, pending legislation was passed by the Pennsylvania House Judiciary Committee to resolve the current state of flux of confession of judgment provisions and the bill was sent to the Pennsylvania House of...more

Recent Amendments to Provisions on Hypothecs under Civil Code of Québec

Bill n°28 titled An Act mainly to implement certain provisions of the Budget Speech of 4 June 2014 and return to a balanced budget in 2015-2016 (Act) passed on April 20, 2015 and received assent the next day. ...more

One Down, One to Go: Illinois Senate Passes Captive Insurance Exemption to Illinois Self-Procurement Tax

On April 21, 2015, the Illinois Senate unanimously passed Senate Bill 1573, as amended. As we have previously covered, the amended Bill creates an exemption from the 3.5 percent self-procurement tax and 0.2 percent Surplus...more

Finders Bill Finds Success In Assembly Committee

In February, I wrote about the resurrection of a bill that would clarify the status of finders under the California Corporate Securities Law of 1968.  Earlier this week, the bill, AB 667 (Wagner) cleared its first policy...more

Will Alabama Honor Your Choice of Law Provisions?

Amendment 884 calls into question the validity and enforceability of the choice of law provisions in contracts brought before Alabama courts. In November of 2014, Alabama voters ratified Amendment 884 to the Alabama...more

More Beer Please! Proposed House Bill Increases Production Cap for Self-Distribution Limit

Two bills have been proposed in the North Carolina House that, if passed, will have a significant impact on the craft brewing industry. These should be watched closely and supported as they broaden opportunities for the...more

U.S. Brand Holders Anticipating Business in Cuba Can and Should Protect Trademarks

As we noted in our Client Alert on December 18, 2014, President Obama has announced that he will take steps to ease regulations that have largely prevented U.S. companies from conducting business in Cuba for more than 50...more

What is Your Texas Legislature Doing for You Today?

The Texas legislature has been busy on energy. House Bill 40, similar to House Bills 539 and 540, steamrolled through the House of Representatives last week by a vote of 122 to 18. Reminds us of A L pitchers not...more

Sanctions on Iran following preliminary agreement with the P5+1

On 2 April 2015, Iran and the P5+1 nations (United States, United Kingdom, France, Russia, China and Germany) reached a framework agreement in respect of Iran limiting its nuclear programme in exchange for sanctions relief....more

Proposed Legislation Threatens Corporations' Ability to Select Forum

Current Delaware law permits a Delaware corporation to adopt a bylaw specifying an exclusive forum other than Delaware to litigate intra-corporate disputes, so long as there is a logical connection between the forum selected...more

Update: Proposed Amendments to DGCL, Including Ban on Fee-Shifting and Permitting Exclusive Forum Provisions

The Corporation Law Section of the Delaware State Bar Association has approved, in substantially the form proposed by the Delaware Corporate Council, amendments to the General Corporation Law of the State of Delaware (DGCL)...more

The Petrobras Scandal and Corruption of Political Parties Under the FCPA

When does bribery and corruption move from a business issue to a political issue to a national issue? Why should US companies be held to the gold standard of anti-corruption laws? Should the US government even care if US...more

New York City Council Passes Ground-Breaking Legislation Limiting the Use of Credit Checks in Employment

On April 16, 2015, the New York City Council, by a vote of 47-3, approved legislation that would prohibit the use of credit checks in employment decisions except in limited circumstances. The bill, which is expected to be...more

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